Accouting Worksheet

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Manual Accounting Practice Set

Moondollars, Australasian Edition 3

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Now that you have completed the end of month posting procedure, you are asked to complete the worksheet for Moondollars.

The worksheet is an internal document that exists outside the journals and ledgers. It is often used in the manual accounting system to help record adjusting entries and prepare

financial statements. After you have prepared the worksheet, in the next section of the practice set you will be asked to use the completed worksheet to help journalise and post

adjusting entries to general ledger. You will also use this worksheet to assist you in preparing the financial statements for Moondollars in a later section of this practice set.

The details of the end of month adjustments for June are as follows:

Cash Registers owned by the business: original purchase price was $7,000, estimated useful life was 4 years, and estimated residual value was $2,000 at the end of the

useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense

divided by the number of months in a year.

Store Fixtures owned by the business: original purchase price was $51,000,...